Priebe Wealth Holdings LLC Trims Stock Holdings in Alphabet Inc. $GOOG

Priebe Wealth Holdings LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,648 shares of the information services provider’s stock after selling 377 shares during the period. Priebe Wealth Holdings LLC’s holdings in Alphabet were worth $647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter valued at about $26,000. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 210,872 shares of company stock worth $46,980,865 over the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.1%

Shares of Alphabet stock opened at $251.88 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $231.15 and its 200-day simple moving average is $192.08. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.82, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.58.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GOOG shares. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group increased their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $244.68.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.